It’s just sampling theory. The HL2 samples at 76.8MHz, so when it looks at a signal at 38.4MHz, it sees exactly every half-cycle (this is a problem if the sample is always taken at the zero-crossing point, because it sees only DC!).
If the input signal is a 38.0MHz sine wave, each half-cycle sample falls a bit earlier. So if the positive half-cycle is exactly at the peak, the negative will be slightly before the peak, and this will rotate the sampling phase at 0.4MHz.
If the input signal is a 38.8MHz sine wave, each half-cycle falls a bit later. But the samples will appear to be exactly the same as for the 38.0MHz sine. All the frequencies from 38.4 up to 76.8MHz appear as images from 38.4 down to 0Hz. Increasing signal frequency results in a reduced frequency in the digitised signal. This is called an image frequency, in the second Nyquist zone.
Note that it’s very difficult to construct a filter that passes 38.0MHz but attenuates 38.8MHz; so there will always be overlap between the Nyquist zones. We normally wouldn’t quote a 76.8MHz ADC as capable of more that 40% of that, or 30.7MHz, and that’s true with the HL2 also .
Above 76.8 MHz, say at 77.2MHz, the successive samples are taken slightly further forward than one full cycle. The digitised signal appears to be at 400kHz. This is the 3rd Nyquist zone, which continues a further 38.4MHz up to 115.2MHz, at which point the received signal is indistinguishable from a 38.4MHz one.
Above that is the 4th Nyquist zone, where mirroring (image frequency) continues up to 153.6MHz, and so on.
So if the HL2 receiver is used (say) with a 40-70MHz band-pass filter, it will receive them as if they were at 36.8->6.8MHz. Happily, the 6m band is right in the middle, and should be easy to receive using the HL2. Just pay attention to the frequency reversal (and demodulate the opposite sideband!). 50MHz will be received at 26.8MHz, for example.
Transmitting might also be possible, because the reproduced waveform from the DAC also contains these higher frequencies.